New foreclosure law benefits Long Island homeowners

In May 2010, Hallie Maggi received notice from her mortgage company that it was foreclosing on her family’s home in Hauppauge.

Nearly 13 years later, she is optimistic that she and her husband Steven will soon be able to put the case behind them and will own their home free and clear. 

That’s because a new law could help the family win a legal fight with their mortgage holder over their house’s title as it shifts the balance of power in foreclosure cases toward borrowers and away from banks. While it may benefit the Maggis and others like them, there is debate about whether the law will help resolve foreclosure cases more quickly.  

 

WHAT TO KNOW

  • A new foreclosure law has shifted power toward borrowers and away from lenders, according to local attorneys.
  • The law addresses the statute of limitations for filing foreclosure cases and strips lenders of flexibility they were granted through a 2021 decision by the state Court of Appeals.
  • The law could help Long Island homeowners who have been involved in lengthy foreclosure cases.

On Dec. 30, Gov. Kathy Hochul signed the Foreclosure Abuse Prevention Act, a law designed to limit the ways mortgage lenders can extend the six-year statute of limitations for judicial foreclosure cases. The law is intended to overrule a 2021 decision by the Court of Appeals, Freedom Mortgage Corp. v. Engel, that gave lenders greater flexibility to stop and start foreclosure cases.

Under that decision, it was possible for lenders to voluntarily discontinue a case against a mortgage borrower and then later refile the case, resetting the six-year statute of limitations.

The decision led to a “flurry of motions” from mortgage lenders and servicers seeking to re-open cases,   according to a memo written by the bill’s lead sponsor in the State Senate, Sen.

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Miami Law LL.M. Programs Listed Top Ten in Five Areas

The University of Miami School of Law has been selected among the top 10 schools in 2022 on LL.M. Guide’s Top LL.M. Programs by Specialty.




For the second year in a row, Miami Law’s Entertainment, Arts, and Sports Law LL.M. was listed for Sports Law and Media/Entertainment Law, the Robert Traurig-Greenberg Traurig LL.M. in Real Property Development was listed for Real Estate Law, and the White and Case International Arbitration LL.M. was listed for Alternative Dispute Resolution. The International Law LL.M. took a top 10 spot this year for Global Law.

Entertainment, Arts, and Sports Law Program 

Available only at the University of Miami School of Law and taught by prominent faculty and practicing attorneys, students study the entertainment, arts, and sports law graduate degree to focus on areas of law that, in today’s world, are expanding, converging, and at times, intersecting. Hands-on, practical learning teaches skills of high value which can provide the tipping point for attorneys contending for jobs in very competitive areas.

In the #1 spot in the category, the LL.M. Guide writes: “This school offers an LL.M. in Entertainment, Arts and Sports Law that is considered one of the best in America. Being based in Miami and South Florida, home to all the major professional sports franchises in baseball, football, basketball, and hockey, is a huge advantage for networking and career opportunities. 

“Miami is now recognized as a vibrant hub for all three sectors, home to divisions of entertainment companies such as Sony, HBO, Viacom, and the BBC,” the guide wrote.

Real Estate Specialty

Also in the #1 spot for the category, the Real Property Development LL.M. — widely regarded as the nation’s best — is designed for the law graduate or attorney who wants to acquire or expand expertise in

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Roundup of law firm hires, promotions, departures: July 18, 2022 update

Dawson assists clients with personal injury matters, criminal and provincial offenses, and institutional legal issues. She has appeared before the Parole Board of Canada and the Social Benefits Tribunal.

McKenzie Lake Lawyers LLP

The firm welcomed four new partners in the Guelph office:

Hampson regularly advises clients on acquisition and sale of properties, institutional and private financing deals, lease agreements, and other real estate transactions, such as lot line adjustments, easements, and property conversions. He also acts for clients in various corporate matters, including M&A, corporate reorganizations, and financings.

Henley specializes in private M&A, corporate restructuring, succession planning, and bank financing work. In addition, he advises on commercial real estate transactions and assists clients in a range of corporate matters, including incorporations, shareholder agreements, and purchase and sale agreements.

Manes has extensive expertise in a wide array of business law matters, such as leasing, M&A, and drafting and negotiating business agreements. He also acts for lenders and borrowers in secured transactions.

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Cassels Expands in Calgary, Solidifies Top-Tier Lending & Finance Team

CALGARY, AB, July 5, 2022 /CNW/ – Cassels is pleased to announce the addition of five new partners to its Lending & Finance Group in Calgary. the partners, Bria Fallen, Mike Hrabok, Sunil Joneja, David Kolesarand Scott McLemanbring decades of notable experience advising top-tier financial institutions across North America.

“We are delighted to welcome this enormously talented and dedicated team to Cassels,” said Jeff Oliverlead partner in the firm’s Calgary office. “I am confident that a combination of their strong knowledge of the market and breadth of experience will further position Cassels as a leading Canadian legal firm, offering a broad range of services that include specialized banking, transaction, and financial services, in an exceptional manner .”

Jeff noted, “This expansion is the largest in a series of new hires and growth across the firm, and establishes our banking group as one of the largest in Western Canada.”

Four associate lawyers have also joined the firm to support the growing team in Calgary: Kaitlyn Kolodychuk, Eli Dzikand Nick Proctor (Lending & Finance) and Gillian Harrington (Corporate).

Commenting on the team’s decision to join the firm, Scott McLeman said: “We are delighted to be joining one of the largest and most innovative financial services practices in Canada and work with an exceptional team of talented people across the country. As Cassels continues to grow in Calgarywe are excited to solidify the firm’s reputation as a leader in banking & lending for the region.”

The Lending & Finance Group at Cassels offers specialized legal services for financial institutions, non-traditional lenders, and business owners, including asset-based lending, real estate finance, acquisition finance, syndicated finance, and project financing. in Calgarythe Group will offer a diverse range

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